search

An incredible cashback rate!
40% of the spread!

Join Now

Should We Be on Alert for Significant Fluctuations in the Pound Following the Release of the UK Consumer Price Index?

Market Report

  1. homeHOME
  2. Market Report
  3. Should We Be on Alert for Significant Fluctuations in the Pound Following the Release of the UK Consumer Price Index?

Should We Be on Alert for Significant Fluctuations in the Pound Following the Release of the UK Consumer Price Index?

18.10.2023

Today's Highlights
  1. U.S. Housing Starts
  2. UK Consumer Price Index

In the U.S. currency market yesterday, the U.S. dollar fell against the euro after the release of U.S. September retail sales data, which showed a 0.6% month-over-month increase in core sales. The EUR/USD pair rose from 1.0533 to 1.0594.The price broke above the 4-hour 20-MA with a real body and also broke through the 4-hour 75-MA. Due to yesterday’s rise, the EUR/USD pair has recovered to just below the daily 20-MA. However, since the downtrend that has been in place since July of this year remains intact, caution is advised regarding the direction of the market.

Ahead of today’s UK CPI release, the pound traded in a range against the yen. GBP/JPY rose from 181.055 to 182.799, breaking out of the range where it had been trading below the 20-day moving average on the daily chart.On the higher-time-frame weekly chart, the 20-day moving average is acting as support, and the pair has rebounded with a bullish candle featuring a lower wick. Therefore, we will be closely watching how today’s CPI release affects expectations for interest rate hikes.

Today, the UK Consumer Price Index and UK Retail Price Index will be released at 15:00; the South African Consumer Price Index at 17:00; the Eurozone Consumer Price Index at 18:00; South African retail sales at 20:00;at 8:00 PM, the U.S. MBA Mortgage Applications Index; at 9:00 PM, Brazil’s Retail Sales; at 9:30 PM, U.S. Housing Starts and U.S. Building Permits; at 9:30 PM, Canada’s Wholesale Sales and Canada’s Manufacturing Sales;21:30: NY Fed Manufacturing Index; 24:30: U.S. 6-Month Treasury Bill Auction; 25:00: Remarks by Fed Governor Waller; 27:00: U.S. Beige Book.With the release of the UK Consumer Price Index, I want to carefully assess the direction of the market to see if the pound will experience significant volatility.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Will the Canadian CPI, which rose from the previous month's 4.0%, cause the Canadian dollar to strengthen?

Next Article

Market Watchers Keep an Eye on the Pound as UK CPI Remains at 6.7%, Unchanged from the Previous Month
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours).

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings